Dayton sends Hodgdon a bill of exchange and duplicate for $1500 from a Mr. Ludlow. Dayton requests an advance of half this sum, and comments that he will enter into a contract if necessary that allows for interest or damages to be paid if Hodgdon deems this necessary. Dayton remarks that he does not feel this would likely happen as Ludlow has informed Dayton that the money is in his possession and Dayton may simply draw from it.